Head Office (Toyota City, Aichi Prefecture, Japan)
By manufacturing cars that reflect the needs of customers and society, Toyota will target sustainable growth and contribute to the development of the automobile industry.
I am pleased to report that Toyota achieved record financial results in fiscal 2006. In addition, on behalf of Toyota's management team, I would like to express genuine gratitude to our shareholders and other investors for their continuing support and understanding. Recent business conditions have been characterized by hikes in crude oil and raw materials prices, fluctuations in currency exchange rates, and structural changes in demand for automobiles. Nevertheless, I think the automotive market as a whole will continue to grow as global motorization progresses in earnest.
Given these conditions and Toyota's increasingly global operations, I think we must pay greater attention than ever to customer feedback, based on a commitment to putting customers first. I also believe that to sustain growth we must stay true to manufacturing fundamentals while carefully monitoring countries and markets to keep abreast of world trends. We will have to tackle a range of management challenges, such as human resources development, the promotion of localization, and the development of technologies that satisfy society's growing calls for environmental and safety measures. I firmly believe that by steadfastly working to meet those management challenges Toyota will achieve stable, long-term growth while contributing to the advancement of the automobile industry.
Since its establishment, Toyota has adhered to a management philosophy of contributing to people's lifestyles and society through automotive manufacturing. We will continue to do our utmost to develop as a company that is widely trusted and respected in the automobile industry and in international society by enriching the lives of the many people that need cars and contributing to society and the environment.
Fujio Cho , Chairman